dagen mcdowell and connell mcshane. >> time magazine, you first but paul ryan was happy to have an appearance as well. >> i would rather have a beer with connell mcshane that he won't be in the same rome. connell: i am connell mcshane. dagen: i am dagen mcdowell. vice-presidential candidates that led out in prime-time. neil cavuto and lou dobbs this hour. both with their own opinions. connell: the defense secretary on the bank cyberattacks. says it is a free 9/11 moment. dagen: a penny more for a scam. this is no answer to the debt problems at the u.s. postal service. connell: i don't know the answer to that. money and politics. a lot to do on friday but we begin with nicole petallides every 15 minutes at the exchange. j. p. morgan and wells fargo in

focus. nicole: i want to focus on j. p. morgan -- jpmorgan. we heard a lot from jamie dimon on a conference call and that is why we see a down arrow. a cautionary tone going forward. jpmorgan had a great quarter. both companies, wells fargo missed on the numbers but when you are looking at the two of them both have one thing in common and that is as you see recovery in housing j.p. -- jpmorgan said their mortgage lending has been higher. lower interest rates helped that a long and wells fargo is the largest home lender and talked about banking jumped as well. that is moving along but you see down arrows on both of these. connell: it was fun to watch last night, vice president joe biden and congressman paul ryan. our favorite topic is the economy and the question of is it possible to get unemployment

under 6%. >> we can and we will get it under 6%. let's take a look at the facts. let's look where we were when we came to office. economy was in free fall. we had the great recession hit. nine million people lost their jobs. 1.7 -- 1$.6 trillion of wealth loss in equity in your home and retirement for the middle-class. >> neil cavuto from fox business. a lot of substance last night but will the debate be remembered for that? neil: i don't think vice presidential debates tend to be. the vice president debating by and large a recent phenomenon. i don't know if it moves the needle. the instant reaction was the vice president won. he got the better of it just because of that.

interested the freefall of the president. some of you said that. probably adds pressure to the president now. you have got to deliver in your face game but can the president do that and does it risk for the president to act like that, still kind of in a no-win situation. i got a kick out of the smirk for one thing and paul ryan -- what are you writing? as i am looking at that i am thinking wire you always smirking? things like this i know this. connell: i'm sure it is just doing. neil: is i hate this guy. is a distraction. i wasn't distracted watching it simply because they had the beer running free all night. not that i mind but these things

are always -- when talking about iraq and iran and the middle east and you interrupt with a lot of smirks and smiles it always seems to be inappropriate but what do i no? the thing the strikes me as odd that me distracted. connell: is like him when one of us is speaking, he is making faces. dagen: doing it on purpose. at some point i wondered -- neil: who forgets peter pan first? connell: you said it. the president can't do what the vice president did. he can't have that same tone. dave: 1 is interesting is in the 2000 debates that george bush had with al gore, the first one

he sighed like crazy. the next time he stopped that's an was a little bit more deliberate but was almost like he was stoic. three different al gores and with george bush would you saw was what you got whether you like to not. same george bush every day. if the president makes a big switch and goes really hyperactive than he risks the same rack. i don't know. he could go too far. you guys were noting the hideous number of interruptions we had with joe biden versus paul ryan. i think the president realize he was flatfooted last week and has to be less so but that makes the assumption that mitt romney is not going to be any less writing those notes. totally bored by what neil cavuto has to say.

dagen: what? is exactly what it says. dagen: joe biden did do one thing. he went back and started to read frame the conversation and brought up the points the president overlooked in the first debate particularly -- >> 47%, every single answer. when talking about the military or commitment of our soldiers and 47%. i did think most missed their opportunity. you could save at about every debate. to your point in the beginning whether it moves the needle, probably not. last week's debate did. the president is going to want to stop that and at least get people to stop worrying about this ticket. joe biden if he did nothing more than that succeeded. we will see.

dagen: great to see you. hold on. make sure tomorrow morning the cost of freedom business block is why i've in washington d.c.. neil: an issue that never came up. the train wreck economy. dagen: on the top of some building with your hair blowing in the wind. neil: it is the helmet. [talking over each other] dagen: people always thought -- dagen: people think you have a rug but you don't. it is true. connell: appreciate it. more on the economy. here is more paul ryan on slow job growth. >> they inherited the situation but we are going in the wrong direction. look at where we are. the economy is barely limping along growing at 1.3%. slower than a girl last year and

last year was lower than the year before. job growth in september was lower than august and august was slower than july. we are heading in the wrong direction. neil: connell: what direction are we headed in? >> we're stuck in slow growth mode. the gist of what paul ryan is saying is true. the economy is likely to grow. we have 1.6% gdp growth in the third quarter as forecast and 1.2 in the fourth and 1% growth in the first quarter next year so we are looking for very sluggish economic growth over the next few quarters. connell: the 7% number that is getting a lot of attention from last week whether it was a fluke statistically and the jobless claims yesterday which seem to be incomplete, people saying what will look like next week, where are we in unemployment directionally? >> think about q e 3? when ben bernanke made the case

he said he had grave concerns about the large number of people unemployed for six months or more and the threat it presented to the economy but labor market conditions are horrific right now or maybe a a little better, from horrific to horrible. doesn't matter what the unemployment says. the unemployment rate has broken away from its traditional role being an indicator of labor market conditions, giving nonsensical results last couple years. connell: would rather be -- president obama will argue things are getting better. they inherited a tough situation and all that. same thing the vice president said. you would rather be mitt romney if you had to make an argument about jobs if you were given a choice. you would rather be met romney. he has a stronger argument to make. >> he framed it right. are we moving in the right

direction? we are moving very slowly. when you think about gdp growth gdp growth is the sum of productivity growth with trans 1% and labor force growth which is around 0.7% over the long run. the economy should grow at 2.2% annual rate left to its own devices and we are not even doing that. dagen: defense secretary leon panetta sounding an alarm about the cyberattacks on banks this week. connell: we will talk about that some more and oracle's chief made by his way in professional sports in los angeles a top larry ellison and get into that as well but in terms of markets today stocks are a little bit. oil 92 and change. we will be right back on markets now. ...seems like you guys got a little gassed out there.

enough already. c'mon guys. next question. hello! what's your favorite color? what's my favorite color? yes. purple. what's your favorite animal? sea turtle. what's your bedtime? do you believe in space aliens? ...i love puppies. hash browns or home fries? home fries. do you like my dress? why can't you guys ask good questions like this? [ morgan ] for a chance to interview an nfl player... join sa nfl fan offe and make your season epic.

gerri: dagen: leon panetta citing the alarm on cyber security after a series of attacks on u.s. banks this week calling this a pre 9/11 moment saying the u.s. must beef up its cyber defense or suffer as it did on september 11th for failing to heed the warning signs.

get ready to dig deeper a post office. the u.s. postal service will raise postage rates. the cost of a first-class stamp will go up 1 penny to $0.46. the price of a first-class stamp has increased nine time since 2006. will also raise rates on its shipping service by 4%. the post office is expected to lose $15 billion this year and oracle ceo larry ellison recently laid out half a billion dollars to buy the hawaiian island of lanai with $40 billion left to burn. the country's third richest man has its eye on sports and entertainment giant a e.g. owner of the l 8 kings, partial owner of the lakers and the barkley center in new york city among other properties. the option only just started and the chief is said to be looking for $10 million to begin and the

allure is the possibility of bringing an nfl franchise back to los angeles. [talking over each other] >> let's go back to nicole. stocks every 15 minutes. took me since the last report. what is apple doing today? >> we saw apple come under pressure but we're watching it closely. watch out amazon, watch out google. we are hearing more about the apple ipad mini canada and now we are learning october 23rd made a be the day we may learn more about the apple i can add many. we heard from analysts and experts in asia and seen millions of displays under production that are smaller than the ipad and it feels mysterious and we know these tablets are increasingly popular and competitive and we will see if the ipad mini falls into that.

is up 1% at 630, not the 70507 where the high was but in six months this woodstock was $520. that is we are looking at. dagen: we want to bring you up-to-date. nasdaq is down six days in a row. that is the longest losing streak in a year. connell: so much that. next big day for mitt romney is tuesday night. second debate with the president. ron christie has helped governor romney in the past to prepare for debate. dagen: first and last word on the bond market. the big guy is here, talking about money getting pulled out of u.s. stocks. where is it going and how dangerous are these fixed incomes. bob will talk about it. take a look at how currencies are faring against the dollar

today. ally bank. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people a machine can't give there for you, night and day. ally bank. your money needs an ally.

>> this is your fox news minute. this year's nobel peace prize

law goes to an individual but to the 27 nation european union. european commission president jose mayor well borebossow was honored. for fostering peace on a continent that years ago was ravaged by war and now challenged by financial crisis. a minnesota woman filed the first lawsuit against the manufacturer of contaminated steroids used to treat back pain. the injections are responsible for inspecting 14,000 patients with meningitis and caused 14 deaths. space shuttle endeavor started its journey through los angeles early this morning on the way to its new home at the california science museum. the shuttle is crawling at 2 miles an hour on a two day journey from lax airport to the museum and that is your fox news minute. dagen: two miles an hour is

classic 405. that is how fast connell mcshane drives. not saying anything about him. >> assuming he knows how to drive a car. connell: thanks. dagen: the bailout on the stock market. investors pull out over $10 billion from u.s. stock mutual funds in the past week. $100 billion so far this year with nearly three times that amount going into bond funds. how dangerous is this. bob our nose and manages several billion dollars. if you look at all the classes of fixed-income how dangerously overvalued are they now? >> there's a lot of complacency out there. if you look for example investment-grade corporate debt the yield spreads of those versus treasuries are back to

lows that we saw in 2007. high yield, as the maturity on that debt is near all-time lows. a lot of aaa munis their all-time lows and even the stock market if you look at volatility measured by the vix that is we 5-year low. very surprising to me. dagen: but complacency means people -- you can reach you this if you not, not factoring in potential risk out there so my question is how dangerous are ready assets classes? what looks best to you and what is your greatest concern? >> a lot of them are pretty much close price to perfection. assumes decent economic environment going forward, could political environment and my concern is a lot of issues

coming up. obviously the presidential elections coming up and two parties with diametrically opposed views on how to fix fiscal problems. you have the fiscal cliff. there's a good chance congress will do nothing before the end of the year than the european central bank supposedly put a new program in place to help out troubled countries with their debt by buying it in the secondary markets. when you look behind their announcement a lot of the details are missing and finally from my perspective greece is starting to rear its ugly head again. let's say what happens if greece drops out of the euro? my concern is not about greece but what do spanish depositors thing? are we next? is the government going to turn around and give me the old style -- and i will take 60% hit in my savings? does that started deposit run on

spanish banks? dagen: you just scared me quite frankly. what is safe? >> what is safe right now? treasuries are fair value at that stock. it sounds boring to say it but i would say really diversify right now. i wouldn't be loading up on high yields or other credit classes that run their course. is not a real sexy message to send the unfortunately that is the environment we are in. dagen: we will take it. thanks for being here. i know how busy you are. take care of yourself and come back soon. connell: ron christie has helped mitt romney get set for debate in the past and he will talk today about what the governor should be looking to do next tuesday. dagen: charlie gasparino with an update on the red sox ownership

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connell: market's leading to tuesday night. mitt romney will talk with ron kristy. he helped the governor prepare for debate in the past and talk about the next one. big money moves by the red sox ownership. charlie gasparino broke some news on is not long ago. he has new details on what the

team is shopping itself and apple is set to unveil its many i can they plan to do ahead of microsoft's unveiling of its new tablet. dagen: bottom of the hour 30 past and every 15 minutes stocks now. nicole petallides as a loser for us. nicole: we are going to take a look at advanced microdevices. paulino pc demand has been dwindling and this chipmaker is lowering sales and profit outlook just before it is set to announce earnings. it is down nine% lowering their outlook and this is a week before the scheduled earnings report. a long list of tech companies have been coming under pressure because of weaker than expected demand. let's look at the major market averages bringing me to my next point about the nasdaq composite which has a down arrow. if we see the nasdaq sell-off today is selling once again and would be the longest losing

streak for the nasdaq composite in almost a year, november of 2011. we are going to watch these levels here but obviously we have had a tough week on wall street. connell: all right. dagen: first round of debate now over and president obama and mitt romney are prepared to face up again tuesday with each candidate still has a lot to prove. connell: next test prep mitt romney for the l.a. primary debate. ron kristy is former assistant to george w. bush. thank you for coming in. everybody is talking about what the president has to do to follow-up on the lackluster performance last week, the aggressive joe biden last night. what about mitt romney. how does he follow up on his victory? >> he needs to make the case to the american people. in his first debate he was good at introducing himself as not some rich guy who is out of touch. i really empathize with the direction people are facing and a lot of people are hurting and

a lot of people looking for more security and leadership out of washington needs to provide a stable but confident message moving forward. dagen: he has to expect the president will be loaded after the first performance. what is the biggest thing he needs to look out for in terms of the president's preparation? >> president obama failed to go after the 47%, failed to 10 mitt romney on his tax plan. i would be very able and willing not only to confront the president but reflect and say this is your record, your inability to lead and a result of your policies. connell: we know the present -- we think the president will not be as aggressive as joe biden but may use the same language. did paul ryan responded right way? should be doing differently next week? >> paul ryan hit it exactly right particularly when the vice president came after him about taxes and medicare.

paul ryan said actually is you had your hand in a piggy bank and you are the ones taking money out of medicare. they need to be ready for this because they don't want to run on their record. they want to run on the fear mongering approach and talking about taxes and class warfare something they have been effective on. dagen: going negative has worked. >> unfortunately for the president and joe biden there likability has kept them around a 50% market. now that you see these ads with the vice president being the attack on people say the economy has not gotten better. we like these guys personally and now they are not being nice. not a smart move. dave: connell: is romney winning? >> yes. before the debate, would you have said? no. he was battling in the battleground states but now you can say he is competitive in florida and colorado and many

states. dave: would he win the davis was the election? >> yes. i flew in yesterday and a lot of people i spoke to set a week ago i was going to vote for the president because i didn't like ronny. now will vote for romney because i got to know the guy in the debate and i found that striking. it is the turn. dagen: returned once and it concerned when. >> we have three weeks. dagen: thank you so much. connell: charlie gasparino talking baseball. back on the red sox or. the latest on the ownership. dagen: lou dobbs, latest poll numbers following the debate. we will dig into that. always getting fired up. take a look at the treasury markets. talking about bonds. is that ridiculous? that is what you give to the federal government every year for ten years. crazy.

robert: i am robert gray. consumer sentiment has jumped to a five year high. university of michigan preliminary october reading unexpectedly rose to the highest level since september of 2007.

americans are more optimistic about the u.s. economy. apple is set to unveil its many ipad at an invitational event october 23rd according to all things digital. that would be days before microsoft unveils its new surface tablet and latest operating system windows 8. the national highway traffic safety administration is investigating honda's pilot suv for breakage use. is covered 88,000 pilots in the 2005 model year. investigators will determine if the problem is bad enough for honda to recall the suvs. no crashes or injuries have been reported. that is the latest from the fox business network giving you the power to prosper. [ male announcer ] let's say you need to take care of legal matts. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it wi modern technology. together you get quality services on your terms,

with total customer support. legalzoom documents have been accepted in all 50 states, and they're backed by a 100% satisfaction guarant. so go to legalzoom.com today and see for yourself. it's law that just makes sense. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from the great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of wor to his last, which isn't rocket science. it's just common sense. from td ameritrade. dagen: new developments in the story charlie gasparino broke on

this network last month. the owner of the boston red sox may be looking for someone to buy into fenway sports. charlie: they keep denying it but rumors keep coming back and speculation coming back and this is speculation from rival baseball owners. what they're telling us is the owner, principal owner of the red sox is not looking to sell at all but is looking to sell a minority stake. that is what bible baseball owners are saying. after a day of going back and forth with the boston red sox they came back with a comment where they are denying their looking to sell a minority stake but here are my sources. these are rival baseball owners who go to the same cocktail parties and a out in the same commissioner meetings and they are saying he is looking to sell a chunk of this thing. minority stake, not a dumb thing to do. you retain control. using this same reason we said

before. he has financial pressures. this guy is a billionaire. pecan dip into his own pocket to finance stuff but he is also a businessman. he runs the financial company which is not having a good year and the liverpool soccer team which eats up a lot of cash. the boston red sox eating a lot offcash, a business to run. this is the theory of why he is doing this. anti as a nascar team which you might know about. i know nothing about it. dagen: jack routes's mario draghi and karl edwards. in general racing is not profitable. charlie: it is a break-even operation. liverpool -- the question lot of people say he is into soccer and has to devote a lot of time. he owns the new england sports network. that is usually practical and the finance these operations

going forward. the boston red sox are going through tremendous change is a nice way of putting it. fired their manager, got rid of $250 million worth of [talking over each other] charlie: whatever. i am just giving you the facts of what i understand are the facts and he is denying it. last time we did this story it was the shot heard round world. [talking over each other] charlie: we told viewers and told everybody they were point blank denying that. they're denying it again. then you have to ask yourself why you doing the story? people who told us are in a position to know. we discussed it with management. we go with it? it is an interesting story.

take it for what it is worth. it does say something about baseball right now, with certain teams and financial constraints on these teams. very few teams are like the yankees. yankees make a lot of money. the yankees -- they make a lot on the network. i'm not an expert at it but they make a lot of money. not every team can make a lot money. [talking over each other] charlie: george steinbrenner whether you like him or didn't like him he was a baseball owner. these guys are financial guys. thanks. dagen: charlie gasparino. the good. connell: the san francisco giants over cannot 2-0 deficit.

they came back to win. you see the washington highlights right there. a big hit for the giants, the nationals as well. the big walk off by jason worth, knocked down -- saw the end of that. detroit moving on. just convert lander was terrific yesterday with 11 strikeouts taking him to the lc s. they will be there. they were a great story but it ended -- he was not yesterday went all the way so those -- some small gains and yankee games tonight, 5:something in the evening. dagen: and there is dale earnhardt junior who suffered a concussion at the kansas testing and after a racket -- was suffering. he is not racing at charlotte's or the following race. he was kind of out of it. in humans and place but he was one of the chaste drivers. he is one of the most popular

athlete in the country. connell: we wish him the best. why do we always get into this. i just don't like it which is fine but i'm not arguing against the validity of its existence or anything. dagen: you sort of par. >> i am not but i will watch racing tonight. dagen: you don't drive. [talking over each other] dagen: the wife drives. you got the time? dagen: look at it. 15 minutes until the hour and nicole petallides has news. nicole: let's take a look at best buy the electronics retailer. electronics are the top competition that we see between retailers and best buy is claimed by some folks who come in and look around and they go home and they buy something on the internet cheaper.

best buy says no more of that. they are playing hardball and what they plan to do is plan to match the price of internet competitors like amazon.com so that is what they're trying to avoid, people coming in and browse around and go home and buy it cheaper. dagen: internet prices and that is what best buy is doing to stay competitive. and wants to take a look at the dow and the nasdaq and the s&p. the nasdaq may be down for the sixth consecutive trading day and that would be the longest stretch since november of 2011 and some of the names weighing on the dow include bank of america, american express and at&t. dagen: the vp debate is over and one goals those which candidate got the edge among undecided voters. we will tell you what it is. connell: the nasdaq maybe down to six day 0. there are some winners there today and here's a look at them.

dagen: and the last night's debate is over. one poll gave the vice president the victory. according to cbs 51% of uncommitted voters said joe biden won the debate compared with 31% for paul ryan. connell: i was a little surprised but polls can be all over the place. the reason i was surprised -- [talking over each other] connell: i thought he appealed to the choir, people already lights and whereas those who

didn't like it would reinforce things they didn't like but the uncommitted in this poll liked him. lou: you raise a very good point. the fact is had joe biden not been so over the top aggressive, disrespectful of the decorum required for that, compare as we did, his performance in 2008 with what he did last night are two different people. he was constrained, respectful, focused in 2008. what we witnessed from this vice president west night is the antithesis of everything that happened in 2008. dagen: you have to be very careful when you are debating a woman because if you have a certain age to you, you look like a chauvinist. it is a rule of politics. you have to be careful. lou: and will back up a little

of my chair now. dagen: as a man how you address a woman. lou: there are differences between being a candidate for vice president and holding the office. it is clear to me he was disrespectful to paul ryan, he was condescending, he was not preserving any semblance of the quorum required of the office and he paid the price with uncommitted voters and we need to point out not only did cbs run a poll but so did cnn. [talking over each other] lou: we will get the real sense of what the impression was over the next few days to whatever degree a vice presidential debate matters. connell: people employed sports analogies too much in these situations the last night did

provide something of a scouting opportunity if you are mitt romney heading into what the president -- maybe not the ton joe biden took but the strategy and the comments for next week. lou: i don't -- i reject the idea that mitt romney needs a scout for requires any outside counsel. he performed brilliantly last week. mitt romney, the man showed his talents, his capacity, his death, his intellect. that is not a matter of just preparation. it is a matter of being who he is. secondly, to me it is humorous. watching the number of news organizations asking president obama how did joe do as if don't they remember how the president did a week ago? you want debate in debate requirements is -- i found that humorous. dagen: word there any topics that either candidate

particularly joe biden opened up to scrutiny and attack by romney or the president? i am thinking about libya and benghazi and what he knew about security. lou: the vice president opened up a large area of controversy when he denied knowledge of the request for security in ben gauzy by the u.s. consulate. he denied also at the same time and this is pointed out by katherine harris and henry both internally. they are focusing on the fact that this denial of knowledge from the vice president comes only two days after the state department's appeared before congress to explain and state categorically the number of times there had been a request for heightened security at the consulate and the vice president speaking only for himself and

the president denying any knowledge of it which means he knew nothing about what was happening on capitol hill and no pre knowledge of that and one has to inquire did he not know, did the president not know? connell: we talk about the fact the we assume the election will be decided by the economy and might very well be but the libya story and how much of that will be an exciting thing. >> it is easy to refer to as foreign policy but what it is now is the integrity of the administration. connell: we wouldn't have thought that a few. dagen: jay carney made comments about referring to vice president joe biden speaking directly for himself and the president and four hours of testimony no one who testified suggested requests for security

were made to the president or the white house. they are issues handled by security professionals. lou: there point was the vice president's denial of the knowledge came two days after the state department had so informed congress rather publicly. stuart: thanks so much. dagen: lou dobbs, special reminder, lou dobbs weeknights at 7:00, and 10:00 eastern time always here on fox business. apple is said to be weeks from unveiling its much-anticipated many ipad. connell: cheryl and dennis will take that up in the next hour. how to sew your current ipad and paper most of the costs of the new model. stay tuned for info on that. right back on markets now. gecko (clearing throat)

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dennis: happy friday, i am dennis kneale. cheryl: i am cheryl casone. we have a guest who says it doesn't matter. all about the presidential candidates. and another guest, plus neil cavuto, we will have his take on where we go from here. dennis: did you know maybe smaller is better? why owners are reselling their ipad in anticipation of the new mini model due in weeks. cheryl: jpmorgan chase turning in record profits. it is time to get back? dennis: and lauren simonetti in foreign equality for the new york stock exchange. we are up 70 points on the dial, and now back on the red. lauren: i am the jinx. that sentiment, that consumer sentiment seems to be wearing off so we have red arrows across the board. banks and financial selling off,

we also have energy down, oil down, gold down, really into what we have had all week, this is the worst week in four months. reported a profit rise but missed expectations di. that is what the street wanted to hear. surging more than 7% right now. getting a boost to some other names in the boost in the sector. back to you. cheryl: lauren simonetti, see you 15 minutes from now. both vice presidential candidates not shying away from coming out on the offensive during the debate. rich edson in danville kentucky. >> good afternoon, cheryl. a very aggressive performance by joe biden last night. democrats are declaring victory, republicans say the vice president was rude and interrupted congressman

paul ryan. also something from the vice president on taxes that didn't quite go up with the administration's position. >> middle class will play less did the duration of the bush tax cuts. the bush tax cuts for the wealthy should be allowed to expire. of the bush tax cuts for the wealthy, $800 billion of that goes to people making minimum of a million dollars. speak of the position is to raise money on families making $250,000, not $1 million. >> or policy hasn't changed. his point was millionaires don't need tax breaks, the wealthy don't need tax breaks and those tax breaks will not animate our economy further. what we have to make sure the middle-class taxes stay low and the challenging issue was let us

vote on the middle-class tax cut. >> congressman paul ryan in ohio, vice president joe biden traveled to ryan's home state of wisconsin. thank you. dennis: thank you. at least one poll gives vice president biden a victory last night according to a cbs poll, 50% of uncommitted voters say vice president biden when the debate according to 31% for paul ryan. washington research joins us now. in the end, is this debate going to be the thing that makes the difference? >> absolutely not. by the end of today we will not even be talking about the debate. we'll be talking forward to next week's presidential debate. dennis: is one reason biden may have seemed to win the debate because he did not have a major gaffe and we were waiting and wondering for it? >> you can say that about all

sides. they played to their base, trying to declare victory, neither one of them move the needle with independent voters. they got what they needed to do, play the bass, not make any big mistakes, hand the ball off the number one guy. dennis: is a draw in essence a victory for the romney side because paul ryan was three years old when joe biden began serving and paul ryan managed to match him. >> this is why i think it is a neck victory for the romney campaign because the momentum is on their side after the last presidential debate, that did not stop last night. it keeps going. i don't think it gathers steam, but did not slow down. dennis: give me a fearless prediction, who wins this election on november 6? >> i'm still sticking with obama, but as i have been saying, romney has the momentum and the battlefield could expand

bringing more states in. if you see mitt romney going to more states to campaign and where he is been so far, that is a really good sign for the romney people. dennis: you believe if romney wins it is not good for the market. i had not heard that from very many people. explain yourself. >> if romney is elected, he pledged he would not renominate ben bernanke. the removal of accommodation could come sooner rather than later. dennis: sitting there watching the debate last night, have to tell you the vice president ducking it up with some of the biggest, whitest chompers i've ever seen a politician. will that hurt overall the impression for his side? >> again, i think it helps his

side, just doesn't play well with independents. did he move the needle with independents? probably not. it probably irritated a few of them last night. he certainly didn't help himself. dennis: you think obama is going to win, but mitt romney is gain. but wait for the debate on tuesday, we think is going to win and what about this town hall format, will that play to mitt's weakness? >> as a conventional with him, he's better in this format going one-on-one with the individual questioner, the ordinary fork. it is a little bit higher expectations for him, i think romney will actually come out of this in better shapp than he is going in. dennis: thank you very much. >> thank you. cheryl: on the heels of the big

debate last night, how do you play this election from a market perspective? our next guest says he has election proof. co-portfolio manager of the gn gp fence a bit of fun. you are back here on september 12, kind of neutral to bearish at that point, has worked on changing at all since then? >> no, qe is still driving the entire. but the dow transports are breaking down. investors have to be careful. stay away from stocks heavily influenced by the global growth slowdown. stick with health care stocks. those are sectors we think will do well. cheryl: we're looking at a year to date chart of the dow. try not to lose this time of the year, let's look at telecom. let's go there with telecom, specific names in that group you like because of this sec fight with the obama administration. explain.

cheryl: we're seeing it with the ipad and iphone and the wireless carriers is bandwidth. comcast international will be big winners in that regardless of which carrier does well. although the end with, the obama administration pushing the fcc fairly hard. look at that sector as being a big winner. we like at&t and verizon. we think the telephone powers providers of the bandwidth will be up. cheryl: a couple other shots we have been watching, home depot, these are names you also like as well, you're betting on the consumer. cheryl: saw consumer confidence numbers that are positive, jpmorgan numbers and saw home loans in terms of mortgages as well as home-equity loans are growing again and that bodes

pretty well for the home-improvement sector and again that is an area as the economy continues to chug along very slowly improve. cheryl: that stock of 70% over last year, the same? about the homebuilders as well, can these stocks continued to run or are they even price in? speaker that is the internal question. they are growing their businesses, the margins continue to grow, they have strong market performance and strong share. we're still somewhat optimistic at this point. cheryl: dimension is already, health care. obamacare stays, but these stocks you are picking our election proof? >> we think so. pharmaceutical providers. united health, but also expressed, cvs care, they're benefiting the matter was what because as people employ more and more drugs to live longer and do the things we do to stay healthy, they will benefit and these are the leaders in that

industry so we see them gaining more strength. cheryl: you are still kind of sticking with that, still room to grow. >> it is not a day trade. cheryl: if mitt romney were to win, that i would think would be a game-changer for the defense industry. centered around defense cuts, afghanistan, if you will. >> assuming you have a divided congress, we would think they would be big winners in that because there are great defense contractors that will win. especially with the abs a couple of weeks ago. cheryl: if there is a romney-ryan victory. >> the defense sector we are watching. cheryl: we love the political pitch. thank you very much, appreciate it, oliver. back over to you.

dennis: neil cavuto with the debate coverage, his thoughts on the winners and losers ahead. speaking of the debates, did you see what happened to california last night? check this out. cheryl has the play-by-play. of what happened, and the debate on her west coast minutes. first, take a look at oil. sometimes investing opportunities are hard to spot. you have to dig a little. delity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look

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dennis: we're coming up on 15 past the hour. interesting for the stock market, you're looking at one big name, that is hasbro. lauren: yes, hasbro shares are up nicely today about 2% right now. they're making toys and games with the chinese company agreeing to a joint venture with alpha animation. the focus is on blazing teens, a popular show with a play yo-yo and everything else. a good day for hasbro. today is not a good day overall for the market so the nasdaq is testing the largest streak. the dow down five points now down for five days in a row and likeness of a couple of minutes ago, this is the worst week since early june.

really this is just one of those weeks we would like to forget about. so back to you guys. dennis: four down days on the dow. last night's vice presidential debate can affect far more than just politics even touching on prices in petroleum and pork belly. jeff flock at the cne with a lowdown on the debates affect on commodity and which candidate those traders say have the edge. >> it is interesting if you thought the debate was a draw, that is why the commodity markets today are a draw essentially. if you put the board up, commodities are pretty much flat today, everything from natural gas, oil, gold, corny little bit further down because a big move up yesterday. i know you are a conservative, you think ryan wanted to do this. >> i will not say it was hands down or a slamdunk, but i listened to it on the radio.

i think he came across better on the radio than he did on television but ultimately i still feel as though he wasn't as vice presidential as many folks would like. >> give me the sense of the floor, traders in general. i know you're a conservative, i know those who are the other way, what do you think the four things right now? >> generally speaking we make money on volumes. we just need people to be participants in the market. bigger banks, we need them to be more active. probably higher under conservative rather than a liberal one. 60-40. >> does that reflect their personal choices if we took a poll of people i and who they wl vote for? >> there are some hollywood people who've done well for themselves and got enough money, they want obama to be in because they like some of his ideas.

ultimately i still feel as though probably too:1. >> interesting. always an interesting take down on the floor. we will have an election down here, maybe we will see what happens. there we go. dennis: thank you very much, jeff flock. cheryl: try to take advantage of the room with oil production from shale fracking. they have a gun to export american crude overseas. they have not specified where the oil would be headed. currently law on the books to ban the exporting. it is the most in 14 years. drill, baby, drill. dennis: that is startling.

>> yet it is that shale fracking. at the same time producing our own energy is a game-changer for the country. dennis: a bonus for the economy. l.a. always has traffic problems, but this morning's are out of the world as the space shuttle discovery moves through the area about 2 miles per hour. dennis: you might not believe how much a used ipad is worth. apple is set to unveil a smaller ipad later in the month. first is how the currency is faring against the u.s. dollar even though there is concerns of spain today weighing in our market. the euro is little stronger against the dollar today. [ male announcer ] let's say you need to take care of legal matters.

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>> 21 minutes past the hour, your fox news minute. a chaotic scene in cairo with over 2000 united in anger and turn on one another. over the course decision to out

members of the regime. they threw rocks and bottles at each other. minnesota woman has filed the first lawsuit against the manufacture of a contaminated steroid use to treat back pain. injections are responsible for potentially infecting 14,000 people with meningitis causing 14 deaths. now the playoffs, both more force a fifth and deciding game this evening after last night's 13 innings 2-1 win over the yankees. washington nationals got a one run victory over the st. louis cardinals last night with a dramatic game-winning home run in the bottom of the ninth. that is your fox news minute. now back to dennis. dennis: thank you. the space shuttle endeavour embarking on his final journey. all 12 miles, the road trip through l.a. making its trip to

miles per hour. how long will this journey takes? >> dennis, you made a good point earlier before we went to break, as my photographer put it, normal friday traffic in los angeles. at a space shuttle to it, that does not make as much difference. we are actually three and a half miles into this trip. it stopped for a nine hour layover. they had a little ceremony, preparing a few other things and headed down the street toward inglewood and through inglewood to the california science center. it will be open on october 30. a $10 million move is what it is costing. we spoke with mark kelly, once the captain of this ship when it circled the earth at 17,000 miles per hour. here's what he had to say. >> when they took enterprise, which is not exactly a real shuttle, they took enterprise to new york, it went on a barge,

discovery flew in to the airport, but here they have really the challenge, getting it through the streets of l.a. >> once again, everybody we're excited to have the shuttle in los angeles built back in the early 90s and left to replace challenger now 25 missions in space, calling this the 26 mission over 400 trees had to be removed and a 160 will carrier. doing everything from removing the trees all the way down to changing the metal on the streets. take a listen. >> depleted the supply of plates from phoenix in all of southern california. we will be leapfrogging them ahead to future areas. >> a live look at the shuttle as it prepares to move, 17,500 miles per hour as it traveled around earth, now 2 miles per hour. when it went around earth, faster than a speeding bullet.

today not much faster than somebody walking down the sidewalk. people coming in from all over the area and as it moves through los angeles they will be doing the same thing. i cannot wait for this thing to cross over the 405 freeway. imagine that? dennis: that would be great to see. thank you very much. they're going to have a fit. cheryl: let's stick with the west coast, time for your west coast minutes. 99-cent stores want to open their first beverly hills location on rodeo drive. says well the companie customere flocking to the stores looking for brand-name items in organic food but could be up for a fight from longtime tenants like chanel and louis vuitton. and democratic smack down between california congressman brad sherman and his challenger. sherman launched at him during the debate. the two of them were nose to

nose. finally a sheriff deputy calm things down, there he is, both are ying for the 30th district including los angeles. actress lindsay lohan getting into politics herself while promoting her new elizabeth taylor movie when asked who she would vote for, she said employment is really important right now and as of now mitt romney as of now. a woman of big words. that is your west coast minutes. dennis: speaking of west coast, i will tell you why los angeles may be getting closer to getting its own football team and why it will be called the oracles. cheryl: we will tell you about the first lawsuit riled against the company charged with making the meningitis tainted drug. and a look at the big winners over on the s&p. we will be right back.

lauren: stocks every 15 minutes. i am lauren simonetti on the floor of the new york stock exchange. take a look at shares of ecolab, up a good day for the company agreeing to buy an energy company champion technology for more than $2 billion, this would ecolab can better tap into rising demand for products used in the oil and gas industry, products that clean the drill and everything else. this is a stock we're watching today. as for stocks overall, not a good day. down a little bit right now, but certainly more stocks declining at the new york stock exchange and are advancing. the winning sectors today seem to be consumer stocks, the drug stocks, energy, financial, material stocks all selling off

today. back to you. cheryl: we will see you about 14 minutes am now. watching the debate last night hard to miss the fact vice president joe biden constantly interrupted paul ryan. now they say it was 82 times. here is an example. >> 7.4 million seniors predicted to lose a current editor vantage program they have. these are from your own numbers. >> more people signed up for medicare advantage after the change. >> mr. vice president, i know you're under a lot of stress to make up lost ground, but people lead better if we are not interrupting each other. cheryl: we're joined now by neil cavuto who did a great job yesterday. was he rude? >> i didn't know 82 times.

people have a lot of time on their hands just to count. he was remarkable, but the president was flat-footed, so biden went the other way on steroids. while democrats were pleased because they felt they were in a freefall with the president's performance last week and they thought that if you interrupt the guy and be aggressive and to be flat-footed and seem like the president was. probably in the middle is where you want to be. but i did notice that so much interruptions, which was constant, but the smiling. i always felt like the days when i was a young car buyer and the guy wouldn't let me leave, joe biden was that guy. was looking at paul ryan, all he was doing was writing notes. what are you writing? you might just say he is lying on this, lying on this, but it is a distraction like i will

look at you, look at dennis, romney was very effective at that in that debate. looking right at him. it is distracting when you are writing down. dennis: for the viewer at home it is strange because a triangle, two candidates were looking off camera instead of in toward each other. no listing for debates, three of them have been quite impressive. is that bad for the vice president to show up this president? >> i don't think beggars can be choosers. you had a lousy debate, you want to see if the white house janitor is up for something because he didn't have one. the challenge for the president, dennis, getting back to your point of interrupting is what does he do? he can't do what joe biden did

because it is o on vice presidential like. we can remember the debate with al gore and george bush, every debate it was a different al gore. the reverse side, did another one on earth tones. al gore was and is a very smart man, he is not comfortable with who he was. the same george bush who showed up for every debate, either you like him or you didn't. the president can't risk being two different from the guy we know because then it looks like he's desperate. cheryl: this is a town hall coming up. that is where the president, though, may be more comfortable. >> i totally agree with that. he is very comfortable in these venues. with this regard he is very good

in those venues. we're witnessing a phenomenon, before the debate, our guy is horrible. and after the debate my gosh, sign him up. the romney folks take your point, cheryl, these type of forums, these kind of sessions with average voters isn't really our strong point. dennis: thank you very much for being with us. >> why are you cutting me off! dennis: exactly. join neil cavuto for the debate next tuesday and the following monday. no one does it better, he is an iron fist and i guess like to say one of the largest heads on television. >> that is undeniable. cheryl: i intervie in drug neil,

this could be my last interview. time to get back to financials. dennis: and why very ellis in known as the oracle of football. now the ten-year treasuries. [ male announcer ] what if you had thermal night-vision goggl, like in a special opsission? you'd spot movement, gather intelligence

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>> i am adam shapiro with your fox business brave. wholesale inflation climbed more than expected in september driven by soaring gasoline prices. now the core price which excludes food and energy was unchanged from august falling short of estimates. investors are alleged for workday on its first day as a publicly traded company. the software company raised $637 million after selling 22.7 million shares make it the largest tech ipo since facebook debuted in may. workday shares open 70% higher than a $28 offer price. rivals include oracle, peoplesoft and sap. the videogame market has dropped for 10 straight month. falling 24% in september. that is the latest from the fox business network giving you the power to prosper.

dennis: fed president said he would have preferred the fed by treasuries than mortgage-backed securities. speaking right now at the university of virginia says the benefits of the bond buying a likely to be stalled and jobless rates have been slow, but he agrees that the decision to keep interest rates near zero. cheryl: jpmorgan kicking off third-quarter earnings season was pretty much a big bang beating estimates on the top and the bottom. joining me now with the details and a look ahead to the big banks earnings. let's start frankly with jpmorgan. so much pressure and speculation about the quarter, did you get what you expected out of it? >> i think we did. it was clear the mortgage banking business lake dramatically. mortgage production over 30% in terms of year-over-year, over 1.8 billion, and interesting to note how much of that work was done in the refinancing area put a big boost now with lending and

i guess this is a page out of wells fargo's book because last quarter wells fargo had a big boost and this quarter in the mortgage production so lots of money coming to these banks through the mortgage business aid cheryl: mortgage volume up 33% and bond sales up 66%. is that strictly tied to the fed or is there something else going on in the bond market? >> a lot of the strength in these markets whether this agrees with the corporate bond has a lot to do with the fed, a lot to do with the commitment to keep rates low and corporations running the business while have access to capital like they have never seen before so not surprised there has been some interest in those types of products. cheryl: let's talk about wells fargo because results are being characterized as they did okay. still the refinances are big for them, mortgages heavy in the california market. >> the net interest margin where

they take it in versus where they landed out continuing to drop, part of that i guess complete understandable given where the rates are. but wells has had the best performance trading 1.4 times, the strongest of what i like to call the core four. they had a tremendous move, and on the negative side that did not get the cut the way they thought they would, so little bit of a drag but still a very strong entity. cheryl: jpmorgan up, have to bring up, are we completely, completely over the london wells story? >> that is one of the things we were looking at, and as of today it is virtually done and they reiterated that on the call to have a handle on that office. we also thought going back a few months we thought the sizable loss was clearly a massive amount, we thought it was relative to the organization.

too much of a push in the stock, stocks, talked over the summer about every entry point given the pressure by the london whale. a huge loss. cheryl: a lot of people would have made money if they would have gotten in on that low point. a lot more financials coming out next week. dennis: a quarter till, lauren simonetti watching progreso. lauren: you know the commercial with the lady in white trying to sell everybody auto insurance. progressive. the best performing financial stock in the s&p 500. the s&p 500 is lower today, but progressive announcing special dividend and likely to announce another dividend in january. so this is one of the winners today on the down day across the board. you would think those sentiment

numbers, consumer sentiment numbers would have kept us a little higher. six months from now the number also a five-year high. think we could be a little bit higher today, but like i said, this is the worst week in four months. back to you guys. dennis: thank you very much. oracle software tycoon larry ellison filthy rich bought his own island in hawaii. now he may be ready to buy something even more precious, his own nfl football team. making a $10 billion bid for the sports team venues owned by fellow billionaire. i could provide a platform for bringing an nfl franchise back to los angeles. cheryl: the stock is up huge at oracle, this deal out of los angeles and also has his big yachting business.

have you seen it in the san francisco bay area? dennis: i have not. 35 years of blood, sweat and tierney at oracle. cheryl: he is doing something right at oracle. dennis: i think they carry him out in a box. cheryl: soon apple could possibly lined up for a smaller ipad. when it is due and how much you could get for your larger model now. dennis: a look at some of the winners over on the nasdaq. nearly 1 billion people around the world

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dennis: looks like apple will be taking the wraps off a mini version of the ipad. october 23. but resellers are already getting flooded with user versions of the bigger model. anthony scarsella, chief gadget officer for one of those resellers, gazelle.com. thank you for being with us. in the past month we have seen a spike up in used ipad being offered to you, how much? >> definitely. about 80% increase in ipad trades to gazelle.com in the past couple of days. interesting to see the ipad owners definitely getting ready to upgrade to an even smaller

ipad, ipad mini, which is very interesting for us. dennis: the flood of ipad, how much are we talking about? on many units? >> definitely reaching into the thousands, but steadily increasing day over day. right now i can tell you the first iteration ipad above 50% of that volume. these have been out two to three years and older then the second generation and the third generation. yet they are definitely ready for the upgrade. dennis: the other half is for more recent machines kind of surprised at that. here is the trouble for apple if i had one of the big ones and i get a little mini, i will not be buying a new big one. this will cannibalize apple sales of the $800 model, isn't it?

>> it potentially could. a 7-inch tablet owner is kind of a different customer compared to the traditional 10-inch tablet owner. something more compact, something less. if it will fall at 299 price point or $399. it'll be interesting to see where this thing will land in terms of price. dennis: it is a laptop market kind of garment, we used to want a bigger screen, bigger screen, and then the ipad tablet market kind of more interested in a smaller screen, wonder what that will mean for the entire category. apple clearly had to do this to match the kindle fire, must have been losing lots of sales to amazon. >> correct. i think two great tablet at 199

price point, don't expect apple to compete with that 199 price point. but they're buried into the apple infrastructure. for them to go ahead and jump ship to a google tablet or even windows 8 tablet, which will be a very different platform for them, don't see that happening. dennis: apple doesn't just stepped in it doing trade-ins itself. thank you for being with us. anthony scarsella with gazelle.com. cheryl: we told you earlier how earnings season kicked off the nation's biggest banks. sandra smith with how you can profit from it in today's "the trade." >> everybody was looking at the bank earnings to give us some sort of color into how the banking sector is doing. look at the reaction today in the bank stocks. big drops from two to 4% drops.

jpmorgan, wells fargo, they beat the earnings expectations. saying maybe the qe inspired rally is coming to an end. we are seeing a big drop in most of those stocks. that being said, tomorrow will be a huge week. remember, these financial stocks after hitting their height of he year sold off big but rallied back. 33% year-to-date. analysts are optimistic heading into earnings. this is ahead of the opening bell. $0.97 per share expected. 62% of analysts that cover citigroup shares rated it a buy. more than any other financial name out there. we'll hear from bank of america as well, but keep in mind they were very downbeat about the third-quarter performance. they're forecasting the first year-over-year decline dating back to third-quarter 2009. so citigroup is looking pretty

good right now and outperforming all these other names. cheryl: the entire sector has done amazing to me cannot deny with the financial guys have done. sandra, thank you. dennis: and medicare fraud, big questions over prescription refill practice. cheryl: the government looking into if the drugstore chain is submitting insurance claims without approval. melissa francis, lori rothman coming up next with that story on "markets now."

>> a quick cautionary note. the 34% increase in earnings at jpmorgan, 60% simply reducing your loss reserve. accounting rather than more money over the trend.